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Alexus [3.1K]
3 years ago
6

Ace Inc. has 10,000 shares of 5%, $100 par value, cumulative preferred stock and 50,000 shares of $1 par value common stock outs

tanding at December 31, 2014. What is the annual dividend on the preferred stock?a. $50 per shareb. $50,000 in totalc. $5,000 in totald. $0.50 per share
Business
1 answer:
REY [17]3 years ago
5 0

Answer:

b. $50,000 in total

Explanation:

Preference shareholders: The preference shareholders are that shareholders who receive the divided before equity shareholders

The computation of the annual dividend is shown below:

= Number of shares × price per share × rate

= 10,000 shares × $100 × 5%

= $50,000

The annual dividend for preference shareholders will be computed by applying the number of shares, the price per share, and the rate.

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Cost Flow Methods The following three identical units of Item LO3V are purchased during April: Item Beta Units Cost April 2 Purc
Lelechka [254]

Answer:

a. Gross Profit =$89, Ending Inventory = $640

b. Gross Profit =$83, Ending Inventory = $631

c. Gross Profit =$86, Ending Inventory = $634

Explanation:

FIFO

<u>a.Gross Profit</u>

Sales ( 1 unit × $403)                      $403

Less Cost of Sales ( 1 unit × $314) ($314)

Gross Profit                                       $89

<u>b. Ending Inventory</u>

Ending Inventory = Units Left × Earliest Price

                            = 2 units × $320

                            = $640

LIFO

<u>a.Gross Profit</u>

Sales ( 1 unit × $403)                        $403

Less Cost of Sales ( 1 unit × $320) ($320)

Gross Profit                                         $83

<u>b. Ending Inventory</u>

Ending Inventory : 1 unit × $314 =  $314

                               1 unit × $317 =  $317

                              Total              =  $631

Weighted Average Cost method

<u>a.Gross Profit</u>

Sales ( 1 unit × $403)                      $403

Less Cost of Sales ( 1 unit × $317) ($317)

Gross Profit                                       $86

<u>b. Ending Inventory</u>

Ending Inventory = Units Left × Average Price

                            = 2 units × $317

                            = $634

4 0
3 years ago
The following information is available for a company's cost of sales over the last five months. Month Units sold Cost of sales J
Mice21 [21]

<u>TC</u> Units

$64,500 (High) 2,470

} $30,700 } 2000

$33,800( Low) 470

<u>VC</u><u> </u><u>per</u><u> </u><u>Unit</u><u> </u><u>=</u><u> </u><u> </u> 30 700 ÷ 2000 = $15.35

when 470 units are sold,( substitute vc per unit = 15.35)

TC = FC + VC

33, 800 = FC + ( 15.35× 470)

FC = $ 26 586

4 0
2 years ago
2) Company issues
nika2105 [10]

Answer:

Advertisement.

Explanation:

An advertisement can be defined as a strategic process or technique which is typically used to bring an announcement, information or notice to the general public.

This ultimately implies that, an advertisement is a means of communication through the use of mediums such as newspapers, blogs, magazines, television, radio, flyers, pamphlets, etc., to bring a specific information or announcement to the general public.

Generally, advertisements are considered to be a form of promoting an idea, product and services.

Hence, company issues advertisement to invites its members to subscribe for its Deposit scheme.

6 0
2 years ago
Architects consider this when designing a building.
frozen [14]
When designing a building an architect consider following things;
<span>The site or place where the building is going to be constructed, second thing he considered is engineering, another thing he considered while designing is the needs of the user and the materials which are going to be used in constructing a building.</span>
5 0
3 years ago
Assume that you are a loan officer of a bank. A local church is seeking a $4 million, 20-year loan to construct a new classroom b
n200080 [17]

Answer:

Explanation:

a.

There is little information on how funds are used or how much money is spent to manage the church. The financial statements have been prepared incorrectly.

Interpretation:

While drafting the financial accounts, the church committed many errors. The church's revenue is equivalent to its daily operations operating expenditures. They have approximately $3 million in funding assets that they do not owe any money on.  

It may be deduced that the church is attempting to preserve asymmetric information, and therefore it will be better to justify its sources of income and use of money in order to determine whether they can or they cannot pay the debt.

b.

The revenue from various channels must be detailed in the yearly report so that the loan officer may make an informed judgment.

Interpretation:

Since payments and contributions account for 90% of revenue and revenue from other sources accounts for 10%, it's surprising how the church earns money in other ways as stated on the income statement. As a result, it's important to understand what other potential revenue streams the church has before approving the loan.

c.

The officer in charge of the loan should check the church's book records to make sure and guarantee that there are no outstanding loans. This situation necessitates a thorough examination and assessment.

Interpretation:

The church has $3 million worth of equipment. The church's expenses, on the other hand, are equivalent to the church's income. As a result, it's unclear how the church acquired the equipment without taking out a loan. As a result, the church must be urged to produce a full breakdown of its expenses, which may be thoroughly and fully studied to see whether there are any financing charges that the church is attempting to hide in its yearly reports.

d.

There is no direct or primary source of income for the church. It solely makes money from charity donations.

Interpretation:

The church's only sources of income are fundraisers and charitable donations. It also doesn't possess any significant revenue streams. Because the church is attempting to conceal numerous possible pieces of information, this may be a case of micro-management by the proprietors, and so these issues should be considered by the officer in charge of the loan before accepting the loan.

8 0
3 years ago
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